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  • 7.2. What is a financial acquisition?

    Non-interpretative – straight application of the law

    A financial acquisition is an acquisition, to the extent that the acquisition relates to the making of a financial supply (other than a borrowing).

    Section 195-1 of the GST Act states that borrowing has the meaning given by section 995-1 of the ITAA 1997. Section 995-1 of the ITAA 1997 states that borrowing means any form of borrowing, whether secured or unsecured, and includes the raising of funds by the issue of a bond, debenture, discounted security or other document evidencing indebtedness.

    An example of a financial acquisition that relates to the acquisition or disposal of an interest in shares is brokerage services.

      Last modified: 31 Oct 2017QC 16359